Dr. Reddy's Named by Science Magazine in Top 20 Global Pharma Employers List for Third Consecutive Year

Rhea-AI Summary

Dr. Reddy's Laboratories has achieved a significant milestone by ranking 15th in Science magazine's 2024 Top Biotech and Pharma Employers Survey, marking its third consecutive appearance on the prestigious list. The company improved from its previous rankings of 18th in 2022 and 16th in 2023, scoring particularly well in 'Employee Respect', 'Employee Loyalty', and 'Social Responsibility'.

The survey, conducted from March to April 2024, gathered approximately 6,400 responses globally, with participants evaluating companies across 24 characteristics. Notably, Dr. Reddy's was also ranked first among Indian pharma companies in both R&D intensity and proportion of PhD employees according to a recent FAST India report.

10/25/2024 - 07:40 AM

HYDERABAD, India--(BUSINESS WIRE)-- Dr. Reddy’s Laboratories Ltd. (“Dr. Reddy’s”) has been ranked among the top employers according to the 2024 Top Biotech and Pharma Employers Survey conducted by Science.

This marks the third consecutive appearance of Dr. Reddy’s in the list. In 2022, Dr. Reddy’s entered the prestigious list at rank 18. In 2023, the company was placed at number 16. In the latest 2024 rankings, Dr. Reddy’s is placed at number 15 with high scores in ‘Employee Respect’, ‘Employee Loyalty’ and ‘Social Responsibility’. The full list is available here: https://www.science.org/content/article/top-20-2024-who-did-science-readers-select-best-biopharma

The prestigious Science magazine is a U.S.-based peer-reviewed academic journal of the American Association for the Advancement of Science (AAAS) and one of the world's top academic journals. Since 2002, Science magazine has evaluated top organizations in biotech, pharma, and biopharma through its Top Employers Survey. The Science and Science Careers’ 2024 Top Employers Survey polled employees in biotechnology, biopharmaceutical, pharmaceutical, and related industries to determine the 20 best employers as well as their driving characteristics. Respondents to the web-based survey were asked to rate companies based on 24 characteristics, including innovative leadership, respect for employees, and social responsibility. The findings are based on approximately 6,400 completed surveys from readers of Science, and other survey invitees.

Commenting on the recognition, G.V. Prasad, Co-Chairman and Managing Director of Dr. Reddy’s said, “We stand for developing affordable and innovative pharmaceuticals by investing in cutting-edge science and technology, developing great scientists and creating an environment that nurtures innovation in all aspects of product development. Our colleagues have the freedom to pursue multiple career tracks within the organization and we expose them to the best ideas and knowledge in whatever field they choose to work in. Our culture and identity have revolved around being bold, entrepreneurial, responsible, humble, empathetic. Our purpose of ‘Good Health Can’t Wait’ is a movement and call to action for all of us, and good health encompasses patients, people and planet. The opportunity is available to each colleague to do their life’s work at our company and make the world a better place. Our people are our pride, and nothing gives us more joy than to see our people realize their full potential in the company.”

A recent report by the Foundation for Advancing Science and Technology (FAST India) in collaboration with IIFL Securities on ‘State of Industry R&D in India’ ranked Dr. Reddy’s first among Indian pharma companies in both R&D intensity and the proportion of PhD employees¹.

Note on methodology:

Science Careers, a part of the American Association for the Advancement of Science (AAAS), commissioned Cell Associates and The Brighton Consulting Group to conduct a web-based survey aimed at determining the companies in the biotechnology and pharmaceutical industries with the best reputations as employers. This web-based study was conducted from March 1 through April 7, 2024.

For this year’s survey, a mixed methodology was used. The first part of this methodology included emailed invitations to Science and Science Careers website visitors registered with AAAS as well as several social media posts. The second part of the methodology included email blasts to Human Resource contacts from the Science Careers database, asking them to promote the survey within their organizations.

This report is based on a total sample of approximately 6,400 surveys. A vast majority of the survey participants came from North America (65%), Europe (19%), and Asia/Pacific Rim (11%).

Survey respondents were asked to select the companies they considered best, average, and worst employers. They then rated these companies on 24 different attributes. Attribute categories included Corporate Image, Financial Prowess, Leadership and Direction, Work Culture and Environment, and Academic and Intellectual Challenge.

A mathematical process was used to determine the attributes with the greatest impact on company/employer reputation. Unique ranking scores were then derived from the ratings given to each company on these attributes. The 20 companies with the best reputations as employers were then determined from the list of companies that were each mentioned at least 35 times. The ranking for each company was independent of company size or number of votes.

About AAAS: The American Association for the Advancement of Science (AAAS) is the world’s largest general scientific society and publisher of the journal Science, as well as Science Translational Medicine; Science Signaling; a digital, open-access journal, Science Advances; Science Immunology; and Science Robotics. AAAS was founded in 1848, and includes more than 250 affiliated societies and academies of science, serving 10 million individuals. The nonprofit AAAS is open to all and fulfills its mission to “advance science and serve society” through initiatives in science policy, international programs, science education, public engagement, and more. For additional information about AAAS, see www.aaas.org.

About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of ‘Good Health Can’t Wait’, we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan ahead and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: www.drreddys.com.

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¹ https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/indian-pharma-firms-trail-global-peers-in-rd-innovation-and-talent-metrics-fast-india-iifl-securities/articleshow/114395822.cms?from=mdr

View source version on businesswire.com: https://www.businesswire.com/news/home/20241025692642/en/

MEDIA RELATIONS

USHA IYER

USHAIYER@DRREDDYS.COM

Source: Dr. Reddy’s Laboratories Ltd.

FAQ

What rank did Dr. Reddy's (RDY) achieve in Science magazine's 2024 Top Employers Survey?

Dr. Reddy's ranked 15th in Science magazine's 2024 Top Biotech and Pharma Employers Survey.

How has Dr. Reddy's (RDY) ranking changed in Science magazine's survey over the past three years?

Dr. Reddy's ranking has steadily improved from 18th in 2022 to 16th in 2023, and now 15th in 2024.

What key attributes earned Dr. Reddy's (RDY) its top ranking in 2024?

Dr. Reddy's received high scores in Employee Respect, Employee Loyalty, and Social Responsibility.

How many participants were involved in Science magazine's 2024 employer survey?

The survey included approximately 6,400 completed surveys from Science readers and other survey invitees.